Latest news with #StochasticRSI
Mint
26-05-2025
- Business
- Mint
Stock Market Outlook: Nifty 50 likely to remain sideways to bullish; Bank Nifty poised for potential upside breakout
The Indian stock market witnessed a robust rally on Friday, buoyed by positive global cues, with benchmark indices posting gains of over half a percent each. The BSE Sensex crossed the 82,000-mark, while the Nifty 50 reclaimed the 25,000 level in intraday trade. The uptrend was broad-based, with the Nifty Midcap 100 rising 0.5% and the Nifty Smallcap 100 adding 0.4%. The Bank Nifty index also exhibited strong momentum, climbing above the 55,800 level during the session. Analysts maintain a sideways to bullish outlook for the Indian stock market in the near term. The Nifty 50 is expected to face its next major resistance at 25,200. Below is a detailed technical outlook for the Nifty 50 and Bank Nifty indices for the week: The Nifty 50 found support near its 21-day Exponential Moving Average (EMA), indicating sustained buying interest at lower levels. The index is currently consolidating within a narrow range of 24,700 – 25,000, awaiting a decisive breakout for further directional clarity. According to Choice Broking, 25,000 remains a crucial resistance level for Nifty 50 on the upside. 'A decisive breakout above this mark could trigger a fresh leg of the rally towards 25,250 – 25,350. On the downside, immediate support is placed at 24,700, followed by a stronger base near 24,500. This zone will be important to watch as any breakdown below it could attract short positions and shift the near-term bias to negative,' Choice Broking said in a note. Momentum indicators also point to early signs of strength. The Relative Strength Index (RSI) stands at 59.33 and is trending higher, indicating moderate bullish momentum. The Stochastic RSI has shown a bullish crossover from oversold territory, adding further weight to the positive setup — provided key resistance levels are taken out. Choice Broking expects the next support zones for the Nifty 50 to be 24,400 – 24,000, while resistance levels are seen at 25,200 – 25,600. The Bank Nifty index is poised for a potential breakout from an inverted head and shoulders pattern, with the neckline resistance positioned around the 55,500 level. A decisive close above this level could open the path toward 57,000. At present, the index is drawing strong support from its 20-day EMA and formed a bullish candlestick on Friday, signaling renewed buying interest, according to Choice Broking. On the weekly chart, Bank Nifty has broken out of a prior consolidation range and successfully retested the breakout zone. Price action is now stabilizing above this area — a technically encouraging sign for bulls. From a momentum perspective, the RSI stands at 59.74 and is trending upward, suggesting strengthening bullish sentiment. The Stochastic RSI has also delivered a positive crossover, indicating the potential for a fresh upward move. 'Any correction or dip towards 55,000 or 54,450 can be seen as a healthy retracement and a buying opportunity for higher targets. These support zones align with previous price structures and moving averages, making them ideal for accumulation,' Choice Broking said. The sector-wide strength reinforces the bullish bias in Bank Nifty and supports the case for a potential upside breakout in the coming sessions, it added. Support levels for Bank Nifty are placed at 54,800, 54,400, and 54,000, while resistance levels are seen at 55,500, 56,100, and 57,000. Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Business Mayor
23-05-2025
- Business
- Business Mayor
Ethereum climbs 65% – But is this rally more than just hype? Analyzing…
Ethereum's OI and whale inflows surged, signaling institutional conviction behind the recent rally. ETH liquidations and technicals point to a likely breakout above $2,714 as shorts get squeezed. Ethereum's [ETH] Futures market has shown remarkable strength over the past month. Open Interest (OI) on Binance jumped from $3.6B to $5.1B—up 41.6%—with the total ETH OI across all exchanges now near $17B. This uptick signals strong institutional and derivatives-driven conviction behind ETH's rally. Importantly, this move is not speculative; it aligns with an almost 65% price rise from $1,600 to $2,663.72. Therefore, Ethereum's recent surge appears more than a temporary spike—it reflects a structurally supported rally backed by robust participation in the derivatives market. Source: CryptoQuant Whale Inflows accelerate In just seven days, Ethereum's Large Holders Netflow rose 22.8%, extending a massive 30-day increase of 1057.08% and a 90-day jump of 392.80%. This surge suggests sustained accumulation from institutional entities and long-term holders. Moreover, the timing of these inflows corresponds with Ethereum's breakout above $2,600, confirming that deep-pocketed investors continue to bet on further upside. Source: IntoTheBlock While accumulation persists, ETH Exchange Reserves have increased by 3.93%, totaling $51.17B. Typically, rising reserves might indicate upcoming sell pressure as more ETH becomes available on exchanges. However, this rise could instead reflect rotational liquidity, where traders deposit ETH for derivatives exposure or to hedge positions. ETH faces major hurdle at $2,714 Ethereum was trading around $2,663, just shy of a strong resistance band between $2,714 and $2,741. The Stochastic RSI sat above 79, indicating overbought conditions, while Bollinger Bands signal reduced volatility. Read More DOT moves toward a bearish zone – Will it push forward? A decisive close above $2,741 would likely open the door to a breakout rally toward $3,000. However, failure to breach this zone could trigger a short-term retracement to $2,581. Therefore, ETH sits at a critical technical juncture that could dictate the near-term trajectory for both itself and the broader altcoin market. Source: TradingView Shorts get squeezed Derivatives data confirms increasing bear capitulation. On the 23rd of May, ETH liquidations showed short positions worth $17.88M being wiped out across exchanges. Binance and Bitfinex led the liquidations, while long positions only accounted for $12.56M. This continued squeeze has amplified ETH's rally, especially as Open Interest and Whale Netflows both support the move. Source: CoinGlass Can ETH break $2,714 and trigger the next altcoin wave? Ethereum appears well-positioned to break above the $2,714 resistance, backed by strong on-chain and derivatives metrics. The sharp rise in Whale Inflows, continued short liquidations, and a 41.6% surge in OI confirm solid bullish momentum. While reserves have risen slightly, this has not weakened the broader bullish setup.
Business Mayor
29-04-2025
- Business
- Business Mayor
Ethena breakout on the horizon? What rising whale activity shows
Whale inflows surged, but outflows are overwhelming, indicating more selling pressure than buying interest. ENA's price faces resistance at $0.38, but technical indicators suggest potential for a breakout. A recent 13.94 million Ethena [ENA] deposit (worth $4.66 million) to Binance has drawn attention to the growing whale activity surrounding ENA. Despite this influx of buying power, 64.36% of holders remain 'out of the money,' which could act as a barrier to a swift recovery. The market faces a delicate balance, where the strength of whale support and large holder activity will determine whether Ethena can overcome its current resistance. Large holder inflows surge vs. outflows surge Over the past seven days, large holder inflows surged by +2094.41%, but the outflows surged even more significantly by +3953.02%. The greater surge in outflows suggests that selling pressure outweighs the buying pressure. While whales are accumulating ENA, a larger portion of the market is exiting, possibly taking profits or reallocating funds. This imbalance could indicate that ENA faces stronger selling pressure than buying interest, which may limit price recovery or prevent a breakout above key resistance levels. Source: IntoTheBlock ENA price structure: Will it break above $0.38 resistance? At press time, ENA was consolidating within a price range between $0.32 and $0.38, as shown in the chart. This consolidation phase suggests a potential buildup for a breakout. At press time, ENA was trading at $0.3301, reflecting a 6.17% decrease over the last 24 hours. The Alligator Indicator showed a narrowing of the moving averages, which typically indicates a tightening market ready for a significant move. Additionally, the Stochastic RSI was reading 77.47, indicating that ENA was in overbought territory and could soon see a pullback or a corrective move before attempting to break the $0.38 resistance. Read More All about Tron's new Bitcoin L2 roadmap and its impact on TRX If ENA manages to break above this level, it could move towards the next resistance at $0.50. However, failure to clear $0.38 may lead to further consolidation or a price decline back toward the $0.32 support. Can rising social dominance fuel price momentum? ENA's social dominance spiked to 0.124% at the time of writing, reflecting increased community interest. A rise in social dominance often precedes price movements, as greater market attention can result in buying pressure. However, while social dominance is an important metric, it does not guarantee sustained price growth. For a lasting rally, positive sentiment must translate into real buying activity. Therefore, while social metrics are promising, the market will require continued whale support and buying pressure for a significant breakout. Source: Santiment At the time of writing, liquidation data revealed a significant surge in long liquidations totaling $254.99K, compared to $10.76K in short liquidations. This imbalance suggests that the market is currently under more selling pressure from liquidated long positions than from shorts. Typically, when more long positions are liquidated, it can lead to further downward pressure as these positions are forced to sell their holdings. Can ENA overcome its resistance? Despite strong whale inflows and rising social dominance, the current market conditions are challenging for ENA. With 64.36% of holders 'out of the money' and significant volatility driven by liquidations, ENA faces substantial selling pressure. The path to a breakout above $0.38 seems uncertain, but a strong shift in whale activity or sustained social sentiment could push ENA above this resistance level.
Business Mayor
24-04-2025
- Business
- Business Mayor
Solana: 150 validators to be removed – A gamble on decentralization?
Solana Foundation will cut support for validators with less than 1000 SOL external stake. 150 validators will be affected; 900 operators could be axed if the program is scrapped. The Solana[SOL] Foundation will cut support for about 150 validators in a push for self-reliance and more network decentralization. In an X post on the 23rd of April, Mert Mumtaz, Helius Labs founder and developer support for Solana, deemed the update bullish and stated , 'Solana Foundation is now gradually reducing the number of validators it delegates to incentivize nodes to be more self-reliant. Extremely bullish.' Source: X A risky bet on decentralization? For closure, n odes or validators stake SOL to propose blocks and ensure network security effectively. Removing validators that rely solely on the Foundation's Delegated Program (SFDP) for staked SOL could affect small operators. According to on-chain researcher Dan Smith, about 150 validators will be axed by the policy. Source: Blockworks The attached chart shows that the Foundation validator support accounted for 20% of the total stake as of 2022 (over 80 million SOL). This has declined to 40 million SOL as of 2025, about 10.5% of the total stake. There were about 1,224 active Solana validators at the time of writing, with a total staked SOL of 389.4 million tokens. Blockworks data revealed that about 900 out of the 1,224 validators were supported by the SFDP, but the top nodes/validators don't rely on the Foundation. That said, validator operator revenue has dropped from $15.9 million to $1.3 million between January and April, and could put more downward pressure on small validators. In fact, Helius Labs warned about this last year, 'We estimate that if the SFDP were to be immediately discontinued, approximately 897 of the program's participants—accounting for 57% of all Solana validators—would struggle to maintain profitable operations.' Source: Santiment Overall market sentiment was negative for the past two days, and the validator update didn't change anything. Simply put, the SOL price could falter at $150 unless BTC climbs higher towards $100K. On the price chart, price action was still strong per Stochastic RSI and whale positioning (green Whale vs Retail Dleta indicator). However, bulls need to reclaim the $150-$160 level (red) to demonstrate greater strength.
